Key Takeaways
- American Bitcoin registered an $81.8 million net loss during Q1 2026, widening from a $59.5 million deficit in the previous quarter.
- Quarterly revenue declined 20.7% to $62.1 million, pressured by Bitcoin’s 22% price correction throughout the period.
- Q1 mining production reached 817 BTC — the company’s strongest quarterly output to date.
- Cost per Bitcoin mined decreased 23% to $36,200, maintaining gross margins above the 50% threshold.
- Shares of ABTC closed Wednesday at $1.25, gaining 1.63%, while posting a 40.5% surge over the trailing 30 days.
American Bitcoin (ABTC) disclosed an $81.8 million net loss for Q1 2026, with the deficit primarily attributed to Bitcoin’s steep price decline during the three-month period.
Shares ended Wednesday’s session at $1.25, marking a 1.63% intraday advance. The stock has surged 40.5% over the past month, though it continues to trade 72.5% below levels seen six months ago.
Quarterly revenue totaled $62.1 million, representing a 20.7% drop from the $78.3 million recorded in Q4 2025. The company absorbed a $117.2 million impairment on its digital asset holdings as Bitcoin slid 22% during the quarter — falling from approximately $87,500 to $68,200.
Total operating expenses reached $150.7 million for the three-month period.
Despite the substantial reported loss, CEO Mike Ho emphasized that the company’s core operations remained profitable when excluding non-cash mark-to-market adjustments mandated by FASB accounting standards. Notably, American Bitcoin held all Bitcoin mined during the quarter without selling any coins.
Mining Output Reaches All-Time High
From an operational standpoint, Q1 marked a breakthrough period for the mining operation. American Bitcoin produced 817 BTC — establishing a new quarterly production record. The company simultaneously acquired 803 BTC through open market purchases for its corporate treasury.
These combined additions of 1,620 BTC elevated total holdings to 7,021 BTC by March 31. The firm’s Satoshi-per-share measure increased 20% quarter-over-quarter.
Production efficiency improved significantly as the cost to mine each Bitcoin dropped to $36,200 in Q1, representing a 23% reduction from Q4 2025’s $46,900. Management attributed the improvement to increased production volumes distributed across fixed infrastructure costs, combined with more favorable energy pricing agreements.
Mining gross margin remained robust at 52% despite Bitcoin’s price volatility. The company generated $32.5 million in mining gross profit during the quarter.
Infrastructure Growth Continues
In March, American Bitcoin acquired 11,298 mining machines from Bitmain, expanding capacity by 3.05 EH/s. The company concluded Q1 operating 89,242 miners with aggregate hash rate capacity of 28.1 EH/s.
Chief Strategy Officer Eric Trump positioned the results as validation of the company’s strategic approach. “We produced 817 Bitcoin at a 47% discount to market price, expanded our strategic reserve by over 1,600 Bitcoin, and maintained healthy margins,” he stated.
He noted that within just eight months of becoming a publicly traded entity, American Bitcoin has secured its position as the world’s 16th largest Bitcoin holder.
The company outlined plans to maintain its dual accumulation approach — generating Bitcoin through mining operations at below-market costs while simultaneously leveraging ATM capital raises to fund treasury purchases. The recent activation of the Drumheller facility is anticipated to drive further operational improvements in coming quarters.
In premarket activity following the earnings announcement, ABTC shares edged 0.81% higher to $1.24.
